Coventry Virtual FTM on July 14th and All Day Referendum July 16th

                                                                                                                                                                                                                                                                             

     TOWN of COVENTRY

    NOTICE OF PROPOSED PROPERTY TAX RATE CHANGE

     

    The Town of Coventry proposes to increase its property tax levy to $72,114,580 in the 2020-2021 budget year; the property tax levy this year is $72,109,090. The FY tax levies have excluded motor vehicle excise tax for the purpose of determining tax levy growth pursuant to Article 11 of 2017-H5157 Sub A, as amended. THIS IS A PROPOSED CHANGE OF 0.00%.

     

                The Town of Coventry is currently conducting a revaluation of property, which is mandated by the State of Rhode Island. It has been estimated that the change in property tax revenues will result in a property tax rate of $18.97 per $1,000 of assessed valuation for residential real estate and tangible personal property and $22.87 per $1,000 of assessed valuation for commercial real estate, as compared to the current property tax rate of $22.24 per $1,000 of assessed valuation for residential real estate and tangible personal property and $26.81 per $1,000 of assessed valuation for commercial real estate.

     

    The preliminary FY 2020-2021 motor vehicle levy includes taxes on motor vehicles at an unchanged rate of $18.75 per $1,000 of assessed valuation, which includes the exemption amount provided by the state’s motor vehicle excise tax phase-out legislation up to $4,000.

     

    A property tax rate of $19.85 for residential real estate and tangible personal property, and $23.82 for commercial real estate would be needed in the coming budget year to raise the maximum levy authorized by section 44-5-2 of the Rhode Island General Law.

     

    The Town budget will be considered at the annual Financial Town Meeting convened virtually and telephonically, pursuant to Governor’s Executive Order 20-05 (including orders continuing and amending said requirements) [Zoom meeting information contained on page 2 of this Notice], on Tuesday, July 14, 2020, at 7:00 pm followed by an all-day referendum on Thursday July 16, 2020, from 7:00 am until 8:00 pm with voting at the following locations: District 1 - St. Francis Church, 132 Peckham Lane, District 2 - Coventry Town Hall, 1670 Flat River Road., District 3 - Club Jogues, 184 Boston St., District 4 – Coventry Senior Center, 50 Wood Street and District 5 - Coventry High School, 40 Reservoir Road.

     

               

    The above property tax estimates have been computed in a manner approved by the Rhode Island Department of Revenue.

     

     

     

     

     

     

    Zoom Meeting Connection Information and Phone Numbers

     

     

    You are invited to a Zoom webinar.

    When: Jul 14, 2020 07:00 PM Eastern Time (US and Canada)

    Topic: Coventry Financial Town Meeting July 14, 2020

     

    Please click the link below to join the webinar:

    https://zoom.us/j/99090722277?pwd=TUcxczF3ZHJVZWRFS2lER0pKUHJ0dz09

    Password: 718912

     

    Or iPhone one-tap :

        US: +13017158592,,99090722277#,,,,0#,,718912#  or +13126266799,,99090722277#,,,,0#,,718912#

    Or Telephone:

        Dial(for higher quality, dial a number based on your current location):

            US: +1 301 715 8592  or +1 312 626 6799  or +1 646 558 8656  or +1 253 215 8782  or +1 346 248 7799  or +1 669 900 9128  or 888 788 0099 (Toll Free) or 833 548 0276 (Toll Free) or 833 548 0282 (Toll Free) or 877 853 5247 (Toll Free)

        Webinar ID: 990 9072 2277

        Password: 718912

        International numbers available: https://zoom.us/u/ayWKwB4nx

     

     

     

    Town of Coventry

    Report to Taxpayers on Current and Proposed Budget

               
       

    2019-2020

    2020-2021

       

    CURRENT BUDGET

    PROPOSED BUDGET

       

    OPERATING

    CAPITAL

    OPERATING

    CAPITAL

    FUNCTION/PURPOSE OF EXPENDITURES

             
               

    EDUCATION

     

    $73,406,698.00

    $200,000.00

    $72,485,592.00

     

    GENERAL FINANCIAL ADMINISTRATION

     

    1,021,431

     

    820,574

     

    PUBLIC WORKS

     

    5,600,911

     

    5,349,315

     

    POLICE PROTECTION

     

    13,373,779

     

    13,770,874

     

    PARKS & RECREATION

     

    1,231,286

     

    846,232

     

    HUMAN SERVICES

     

    785,856

     

    777,960

     

    GENERAL GOVERNMENT

     

    5,927,161

     

    6,412,662

    200,000

    PUBLIC LIBRARY

     

    994,193

     

    993,138

     

    PLANNING & DEVELOPMENT

     

    376,010

     

    375,794

     

    DEBT RETIREMENT

     

    5,232,761

     

    5,190,069

     

    SUPPLIMENTAL PENSION LIABILITY

     

    -

     

    -

     

    TOTAL EXPENDITURES

     

    $107,950,086

    $200,000

    $107,022,210

    $200,000

     

     

    REVENUES

             
               

    LOCAL PROPERTY

     

    $75,293,157

    $200,000

    $75,771,295

    $200,000

    STATE RESTRICTED

     

    27,224,253

     

    25,407,003

     

    LOCAL NON-PROPERTY

     

    5,432,676

     

    5,843,912

     

    CELL TOWER RESERVE FUND

     

    -

     

    -

     

    SCHOOL FUND BALANCE ALLOCATED

     

    -

     

    -

     

    TOWN FUND BALANCE ALLOCATED

     

    -

     

    -

     

    TOTAL REVENUES

     

    $107,950,086

    $200,000

    $107,022,210

    $200,000

               

    CERTIFICATION:

             
               

    This is to certify that the data contained in this report is accurate to the best of my knowledge.